(Solved by Humans)-Zango Stores plans the following inventory levels (at cost) on one of the items sold in the store
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Zango Stores plans the following inventory levels (at cost) on one of the items sold in the stores. The inventory at the end of May should be N1,700,000; June N1,500,000; July N1,900,000 and August N1,600,000. Sales on the item are expected to be: June N3,500,000; July N2,500,000 and August N3,300,000. Cost of goods sold is 60% of sales value. The business estimated purchases in April is expected to be N1,900,000 and in May N1,600,000. A given month?s purchases are to be paid asfollows: 10% during the month; 80% the next month and the final 10% two months after.Required:Prepare purchases budget for the months of June, July and August. Prepare also disbursements budget on Purchases for the three-month period.
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This question was answered on: 10 May, 2025
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